Tech and medical sector in Canada are flourishing after experiencing a decline for the past 10 years. It was revealed in a research conducted Statistics Canada on the annual labor market. According to the research, companies in Canada employed 336,500 more people this year, an increase of 1.9 percent, which is the fastest growth in the last 10 years. Out of the total, 280,600 were full-time employees. Since 2000, Canada saw a year by year decline in unemployment rate, with the maximum being 0.7 percent in 2017. The current Canadian unemployment rate is 6.3 percent, with Ontario at six percent.

The Canadian tech sector is experiencing a boom and occupations belonging to professional, scientific and technical services were three of the fastest growing sectors. These three sectors employed 29,300 employees in 2017, an increase of 3.4 percent compared to 2016. It is the fastest growth since 2007. Statistics Canada reported that this is a high-skilled, high-earning industry, with average weekly earnings of CAD 1,577. Ontario saw the highest growth as companies in the province hired 14,100 employees in 2017, followed by 10,600 positions in Quebec.

Despite the growth, there is still a high demand for skilled workers in Canada and the gap is only going to grow. The unemployment rate in Canada for immigrants is only 6.7 percent, which is one of the lowest in the world. Statistics Canada confirmed that the gap between the unemployment rate of locals and immigrants isn’t that huge.

Lowest unemployment rate

British Columbia has the lowest unemployment rate of 5.1 percent in 2017, a one percent drop from 2016. 87,300 new people were hired in British Columbia, an increase of 3.7 percent from the previous year. Statistics Canada announced that social assistance and health sector received the most number of employees in 2017, which are 39,600.